All Forum Posts by: James Derry

feel free to reach out to me and I can help you with funding. 

There are probably a number of factors that determine this.  
Zillow and Redfin may get more information from mls listings which would include newer and more luxury "market rates" they may also use a city wide average instead of a more local radius. 

Rentomer I believe uses more public platforms including Craigslist, classifieds, etc. They also may have more rates that are stale or outdated.  

you should also look into more platforms like apartments.com or a local agency to help evaluate an accurate rent.  

Depending on what you have in Capital...  the developers I work with get their plan in place and use a combination of the two types.  For example:  If you say permitting delays you,  then use your cash for the preconstruction and permitting. Line up your contractors,  If you have enough available then even a portion of the start of your project can paid for in cash. When the time is right and you feel confident on your schedule, then you can close on your loan and reimburse yourself.  Not all lenders go for this but you can shop around and find the ones that do.  

Could you purchase the property and execute a custom "rental" lease to your neighbor? It would resemble a type of commercial lease. Have your term 5 years (or however long you choose) and provide different options within it that suits both of you for each situation.  It seems similar but could be less messy by having an actual termination date with an option for renewal. 

My goal is to cover what I need.  I track my costs and try keep to my budget as much as possible.  Right now I am working towards growth and reinvesting as much as I can. 

Thanks for sharing.  I have been looking through their inventory contemplating my options.  I will definitely take this into consideration. 

Search for some books by Tim Burrell. He has many out there. One to note is "Creating the deal"

Send me your details and I can help you out. 

Are you keeping near the Philly area? Or are you looking at other markets too?

There are too many ways to respond to this.  The common answer to many of your question is that it depends on your strategy and market.  
As for your equity, many believe that some type or Heloc would benefit investors, so you can have your equity become liquid.  You really need to make sure you work with a lender that has favorable terms for you though. There are so many products and many do not help what you are trying to achieve.